Nepal Chamber of Commerce and Industry Reaches New Heights in Policy Reforms: Chandra Dhakal

Chandra Prasad Dhakal, President of the Nepal Chamber of Commerce and Industry (FNCCI), has stated that his three-year tenure achieved success in resolving economic crises and creating an investment-friendly environment. Under the Chamber’s initiative, a national economic debate was organized, and a high-level Economic Reform Recommendation Commission was established. The private sector has been officially declared a zone of peace. The Chamber also drafted bilateral investment agreements and held investment conferences with various countries, alongside amending its constitution for institutional transformation. – March 26, Kathmandu.

President Dhakal acknowledged that the country’s economy was in an extremely challenging state when he took office. Despite adverse conditions caused by the COVID-19 pandemic, international conflicts, high interest rates, liquidity shortages, investment disappointments, and frequent government changes generating policy uncertainty, his leadership succeeded in maintaining private sector morale, sustaining economic activities, and fostering an investment-friendly environment.

During an event in the capital, he outlined successes over the three years, including resolving economic crisis issues, fostering domestic and foreign investment environments, strengthening public-private partnerships, producing skilled manpower, creating employment, and advancing businesspeople’s respect and security. He highlighted that the FNCCI’s initiative led to the national economic debate, the formation of the high-level Economic Reform Recommendation Commission, the declaration of the private sector as a peace zone, and recent government approval of a strategy for private sector protection and promotion.

Furthermore, drafts of bilateral investment agreements (BIAs) have been prepared and advanced with multiple countries. The culture of conflict between the state and private sector has shifted towards cooperation and partnership. The Chamber mediated in disputes over dedicated feeder and trunk line fees and established Nepal Development Public Limited with capital of 1 billion Nepalese rupees. Investment conferences have also been held with countries including India, China, UAE, Qatar, and the UK.

President Dhakal emphasized: “The Chamber has achieved new heights in policy reform and intervention. Moving beyond the traditional role of just advocating demands, we have actively participated in policymaking processes. Organizing the national economic debate brought government, political parties, regulatory bodies, and the private sector onto a single platform. As a result, the high-level Economic Reform Recommendation Commission was created, which proposed reforms to more than 30 laws and laid the foundation for improving the investment climate. Industries, trades, businesses, and factories of the private sector have also been declared as peace zones.”

Regarding institutional transformation, he noted that the Chamber’s constitution was unanimously amended to make leadership selection more inclusive, transparent, and competitive. Additionally, for the first time, research on the private sector’s contributions was conducted and reported.